Morgan Stanley upgrades Qualcomm to Equalweight with a $231 price target, reversing its bearish stance as Qualcomm targets $15B in data center AI revenue by

Qualcomm stock surged over 13% after doubling its non-handset revenue target to $40 billion by fiscal 2029, with $15 billion expected from AI data centers.

Morgan Stanley upgrades Qualcomm to Equalweight with a $231 price target, reversing its bearish stance as Qualcomm targets $15B in data center AI revenue by

QCOM stock surges as Qualcomm targets $15B in data center AI revenue by FY29 and signs a major server CPU deal with Meta.